Nifty IT Plummets: 2008-Like Crash as 6 of 10 Stocks Drop Over 20% in 2 Months

• Nifty IT index down 19% in February, worst month since September 2008 financial crisis.
• Six out of ten Nifty IT shares have fallen over 20% in the first two months of the year.
• Coforge, Wipro, Persistent Systems, LTIMindtree, and Infosys are among the worst performers.
• Jefferies downgraded IT stocks, warning AI could shift sector to consulting, reducing managed services.
• Foreign institutional investors (FIIs) selling heavily, with holdings at a 4-year low, impacting IT shares.